Market Weekly Outlook Feb 03 2020

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In the week ahead, the global financial market will shift its focus to Friday’s U.S jobs report for Jan. Last week, the Fed decided to leave the interest rate unchanged in the range of 1.5% to 1.75%. It indicated that interest rates would remain on hold until some major change in economic outlook occurred. Its future policy decisions will be driven by the economic data received. The focus will also be on the central bank meeting in Australia. RBA is expected to hold rates at 0.75%.

Brexit’s done last Friday at midnight. The UK has left the European Union. Now what?… It’s the first trading month and week for GBP outside the EURO.

Let’s take a quick look at the most important events that are likely to affect the market:

Monday, Feb 3
  • German Manufacturing PMI (Jan) at 08:55 GMT. The forecast is to rise by 45.2, from 43.7 a month earlier.
  • U.K Manufacturing PMI (Jan) at 09:30 GMT. The forecast is to remain unchanged as the previous month at 49.8
  • U.S ISM Manufacturing PMI (Jan) at 15:00 GMT. The forecast is to rise by 48.5, from 47.2 in the preceding month.
Tuesday, Feb 4
  • RBA Interest Rate Decision (Feb) at 03:30 GMT. The central bank is expected to keep rates on hold at 0.75%.
  • U.K Construction PMI (Jan) at 09:30 GMT. The forecast is to rise by 46.00, from 44.4 in the preceding month.
Wednesday, Feb 5
  • U.K Services PMI (Jan) at 09:30 GMT. The forecast is to remain unchanged as the previous month at 52.9.
  • ECB President Lagarde Speaks in Paris at 12:15 GMT.
  • U.S ISM Non-Manufacturing PMI (Jan) at 15:00 GMT. The forecast is to rise by 55.1, from 55.00 a month earlier.
Thursday, Feb 6 
  • AUD Retail Sales (Dec) at 00:30 GMT. The forecast is to fall by -0.2%, from 0.9% in the last month.
  • ECB President Lagarde Speaks in Brussels at 10:00 GMT.
Friday, Feb 7
  • U.S Nonfarm Payrolls (Jan) at 13:30 GMT. The forecast is to rise by 161K, from 145K a month earlier.
  • U.S Unemployment Rate (Jan) at 13:30 GMT. The forecast is to remain unchanged as the previous month at 3.5%
  • Canada Employment Change (Jan) at 13:30 GMT. The forecast is to fall by 20.5K, from 35.2K in the last month…

You can track the economic data in real-time at the following link below:

Live Economic Calendar

MARKET DATA

UPCOMING ECONOMIC EVENTS